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I believe this would be the beginning of the end of PayPal as a major method of online payment
True…
would safcon let go of one of their better-yielding milkers?
watakwama na percentage flani…say, keep East Africa as their stake…
With the current regulatory laws , Mpesa or a similar system would never be allowed in Western economies. It flouts several banking regulations making money laundering too easy. It would be for example a drug dealers haven. So PayPal is there to stay.
ukiona wordpress ujue ni gutterpress tu
Mpesa is Vodafone Property. Kenya pays Mauritius based Vodafone
The Vodafone Sales and Services Limited (VSSL), which owns the M-PESA solution, has entered into a Managed Services Agreement with the Safaricom Kenya under which VSSL agrees to provide the M-PESA solution to the Company against which a licence fee is due quarterly.
The licence fee is based on either the higher of the number of active subscribers multiplied by a service fee rate which is graduated depending on the number of subscribers (the service fee rate reduces with increase in number of active subscribers) or 10% of M-PESA revenues and is capped at 25% of the revenue for that quarter with a floor of 10% of revenue per quarter. The fee is payable quarterly
M-PESA Holding Company Limited, which is controlled by directors who are independent of Safaricom Limited, acts as the trustee for M-PESA customers and holds all funds from the M-PESA business in trust to ensure that those funds are safeguarded at all times.
Note: Bob Collys Me More is paid by Vodafone Group Services Limited.
Name of shareholder, Number of shares
1 VODAFONE KENYA LIMITED, 16,000,000,000
2 CABINET SECRETARY — THE TREASURY 14,022,572,580
3 STANDARD CHARTERED NOMINEES NON-RESIDENT AC 9069, 434,327,606
4 STANDARD CHARTERED NOMINEES NON-RESIDENT AC 983,5 343,552,231
5 STANDARD CHARTERED NOMINEES A/C KE11916, 253,590,700
6 STANDARD CHARTERED NOMINEES A/C KE14353, 227,000,133
7 STANDARD CHARTERED NOMINEES NON RESIDENT A/C 9318, 202,437,740
8 STANDARD CHARTERED NOMINEES NON-RESIDENT A/C 9054, 184,765,000
9 STANDARD CHARTERED NOMINEES NON-RESIDENT A/C KE10085, 182,542,500
10 STANDARD CHARTERED NOMINEES A/C 9230, 128,560,200
Zuckerburg may as well be one of this nominee accounts. Nominee accounts are how the Banking System facilitates Tax Avoidance
Huyu jamaa kumbe hakuja tu Kenya kula samaki
It’s Vodafone that owns mpesa, safaricom is using it under licence. Agreement ni they pay a 5% royalty of all revenues mpesa generates. Now the question is, would Vodafone sell mpesa? Hapa sijui, but if Barclays is disposing off its African operations, anything is possible.
Lakini hio story ni imbo
Because of US securities laws, Zuckerburg is likely not a holder of one of these nominee accounts. One of these laws requires him to declare any interests in holdings that may impact the financial aspect of a publicly traded corporation he is a major holder of. This is done in the interest of the shareholders of publicly traded companies.
Vodafone is not likely to sell Mpesa, it is unique and umatched to this day. Unless they get a very lucrative offer of billions of dollars that is too juicy to turn down, Mpesa will remain under their armpits.
One thing they will likely do which is profitable over the long term is licensing the technology and the rights to use it. This guarantees them income forever and ever as long as people continue sending money through the service.
Vodafone is not likely to sell Mpesa it is the Gold of it own.
Zukerberg (read Facebook) has a better chance to “market and Sell” MPESA Worldwide but the banks will fight him.
Even if he were to buy, at least 30% of the shares must be held by Kenyans and the process would require purchasing large amount of share on the stock exchange to enable him delist the company. On the other hand, does he really need to buy Mpesa? He could reach an agreement with safcom to buy the idea and let safcom continue as his franchise.
Zuckerberg is an enterprenuer not an investor. Two different things. Not sure if he is going to make the switch in Kenya. 2nd is there are many companies internationally I am sure that are interested in MPesa. If Zuckerberg comes shopping publicly, the price of Mpesa goes up because the other suitors will up their bid. It almost like Chelsea or Man U shopping for players. Their price skyrockets. I have seen some managers in the teams complain about this. I think if he was interested he would do it rather quietly behind the scenes.
Atleast we agree: Tulidanganywa MPESA IS KENYAN!
look y’all remember that Zuckerberg was in Middle East with a proposal for Internet services at a fair price for some stake in marketing of Facebook, which was rejected.
So the buying process of M-pesa might be true but Vodafone can’t sell their cash cow that easy plus the market dynamics in the states is way different from Kenyan
M-pesa might really help drug cartels and fighting them might be hell for the law enforcement in the US